Oil prices fell Monday after reports that a Libyan militia agreed to reopen some oil terminals, possibly boosting global supplies.

Benchmark U.S. crude for May delivery was down 53 cents to $100.61 a barrel at 0915 GMT in electronic trading on the New York Mercantile Exchange. The contract gained 85 cents to close at $101.14 on Friday. The price has vacillated around $100 per barrel for most of the past month.